FRANKFURT, Aug 14 (Reuters) - German steel and industrial
group ThyssenKrupp said it could make its first net
profit in three years, as Chief Executive Heinrich Hiesinger's
recovery strategy begins to pay off.

ThyssenKrupp on Thursday raised the outlook for its
financial year ending in September to "breakeven to slightly
positive net income," after a turnaround at its steel mill in
Brazil, cost cuts and demand for elevators and chemicals plants
bolstered third-quarter earnings.

Hiesinger has been trying to turn ThyssenKrupp around after
a slump in the global steel sector and a failed foray into the
Americas caused losses and prevented the group paying
shareholders a dividend for two years in a row.

He has cut costs and sold non-core businesses to reduce the
company's exposure to the volatile steel sector and close a gap
with more profitable industrial peers.

Commerzbank analyst Ingo-Martin Schachel said the new profit
outlook was "a psychologically important milestone" and stuck
with his "buy" recommendation on ThyssenKrupp's stock.
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